Easily Avoidable Mistakes Made in Pet Franchise
Do not make a Premature Commitment
This is the first and fatal mistake of franchisees that rush into franchising. The pet franchise industry is booming. But many franchises are taking advantage of the statistics. Don’t be swayed by over generalization of industry statistics. Participate in due diligence. This step is not just for lawyers. It is not a formality. It is a serious aspect of investment.
A good pet franchise helps with every step, and will be transparent. The FDD should be provided on time. Any dialogue between current franchisees should be facilitated.
At Splash and Dash Groomerie & Boutique we look for a good match. We want investors to be successful. Realistically, no company should rush individuals into decisions. Instead they should help provide information for one to make an informed decision.
Splash and Dash Groomerie & Boutique hosts opportunities to speak with current franchisees. Splash and Dash recognizes the importance of these conversations. Not only for assurance, but also for the insights a shop owner can provide. The company has developed a system of investment with the lowest initial investment requirements. The aim is to break even in six months. The company provides training and assistance to make this happen.
Also encouraged are expansion opportunities. Once a shop reaches a revenue cap, the company supports shop owners expanding. But above all, Splash and Dash wants to protect franchisees.
Rushing is a mistake. We want those interested to be knowledgeable. This is the best way to avoid occupational pitfalls.
Do Not Be Swayed by Industry Hype: Discern Between Industry Statistics and Individual Unit Success
This is particularly important in the pet franchise. When an industry as a whole is seeing good numbers, companies have the tendency to use sweeping facts to sway investors. One wants to enter a booming industry and these statistics are still important. But considering investors should take the time to evaluate vantage points of that particular company.
What makes this franchise stand out over the competitors?
Splash and Dash Groomerie & Boutique boasts and practices the mom and pop feel with big box results. Even when working with an international pet franchise, the company still operates on a personal level. A monthly review hosted by the CEO takes place to review finances, marketing, and growth.
Also a point of pride for Splash and Dash, is at any time shop owners can make suggestions, express dissatisfaction, or offer improvements to our terminal software. Home office will make changes. If the changes work, this will become a company standard. Continuous improvement and a willingness to listen our part of our company values.
Bigger is Not Always Better
Business is circumstantial and recognizing the right circumstances is key.
This translates into the pet franchise. A pet franchise may have hundreds of franchise successful locations. This does not mean anyone will be successful. Eventually franchise units in the same company become competitors. Large franchises saturate territories. They have less economic value. Even in a high population area, saturation points are a huge variable.
It is important to analyze the demographic of your target area. This will exponentially help your chances. Huge franchises have a tendency for “quantity over quality.” If there are enough units out there, money will be made. This is not the Splash and Dash Groomerie & Boutique model. This company invests in franchisees as much as they invest in us.
Splash and Dash offers territory protection. The company believes in a supportive community throughout the entire franchise. Corporate marketing campaigns are devised for the betterment of every shop owner. Multiple scaling opportunities are in place to make it easier for shop owners to expand without interfering with other shop owner revenue.
Even though Splash and Dash is an international pet franchise we don’t act like it. Our focus is bettering both communities and business models.
Allowing Yourself to be Misled
Many investors in the pet franchise are everyday people who have the entrepreneurial spirit. Individuals decide to leave their dead end jobs to join the pet franchise. They do it based on their passion for dogs. Splash and Dash loves this. But constantly warns those who may not be acquainted with business to seek help. This is equally important before and after signing.
Investigate the franchise’s reputation. Does their management team’s style fit you? When reviewing the FDD do they encourage thorough examination?
We’ve all visited a used car sales lot. It’s not always the most fun experience. This should not be a point of comparison to your franchise research experience. Franchise unit owners work with company corporate offices for the whole duration of ownership. If you are already feel uncomfortable, misled, or exasperated. This is probably be a bad sign. Splash and Dash Groomerie & Boutique prides itself on the experience we provide.
Signing too Quickly
Pet franchise investment is a life altering event. It can be a great opportunity in your life, or a grave mistake. It allows one to become their own boss, work with passion, and enjoy fiscal benefits. But like any investment there are a certain amount of risks involved. Foregoing examination of an FDD, being manipulated by misleading information, and prematurely signing are mistakes.
Splash and Dash Groomerie & Boutique does not want you to make these mistakes. Whether investing in the pet franchise or pursuing any entrepreneurial opportunity.
We believe in honest business. We urge investors to do their research before wasting their money and time. Our developed model, terminal software, and services are designed for success, but only if the fit is right.
Know the risk. Know the company. Make an informed decision–before you sign.
For more information on why Splash and Dash Groomerie & Boutique may be a good investment for you click here.